MIPS, Q-Logic report strong quarters

MANHASSET, N.Y.  MIPS Technologies Inc. and QLogic Corp. reported year-over-year gains in earnings and sales in their December quarters, as demand for the products and services of both companies continue to remain robust.

MIPS (Mountain View, Calif.), a supplier of processor IP, posted net earnings of $3.5 million on sales of $15.5 million in its second fiscal 2005 quarter, up from $0.5 million on sales of $10.7 million for the year-ago quarter.

"Design activity in our customer base remains robust and with the well-established leadership of the 24K core family, we are attracting opportunities with customers who formerly used competitive products," said John Bourgoin, president and chief executive of MIPS, in a statement.

Q-Logic (Aliso Viejo, Calif.), which supplies products for storage area networks, reported net earnings of $43.4 million on sales of $150.3 million in its third fiscal 2005 quarter, up from $35.0 million on sales of $137.1 million a year ago.

"The growth in our revenue during the third quarter was primarily driven by double-digit sequential growth for both HBAs and switches," said H.K. Desai, chairman, chief executive, and president of Q-Logic, in a statement.